Share Market Highlights: Sensex ends at 57260, Nifty holds above 17050; Kotak Bank, HCL Tech top gainers

Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic indices closed with gains on Monday. Broader markets underperform.

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India VIX ended marginally higher. (Image: REUTERS)

Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic benchmark indices closed with gains on Monday. S&P BSE Sensex ended 153 points higher at 57,260 while NSE nifty 50 closed 27.5 higher at 17.053. Bank Nifty was down in red along with broader markets. India VIX closed at 20.83 points. Kotak Mahindra Bank was the top gainer, up 2.4%, followed by HCL Technologies, Titan, TCS, and Bajaj Finance. Sun Pharma, Axis Bank, NTPC were the top laggards. 

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16:22 (IST)29 Nov 2021
Sensex ends in green, Nifty down-trend still alive, 17200-17300 to act as resistance

Domestic benchmark indices closed marginally higher on Monday while broader markets underperformed. S&P BSE Sensex ended 153 points higher at 57,260 while NSE nifty 50 closed 27.5 higher at 17.053. Among sectoral indices only Nifty Financial Services, Nifty IT and Nifty Consumer durables indices closed with gains while others were in the red. Bank Nifty was down in red along with broader markets. India VIX closed at 20.83 points. Kotak Mahindra Bank was the top gainer, up 2.4%, followed by HCL Technologies, Titan, TCS, and Bajaj Finance. Sun Pharma, Axis Bank, NTPC were the top laggards. 

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15:34 (IST)29 Nov 2021
CLOSING BELL

Domestic indices closed with gains on Monday. Broader markets underperform.

15:20 (IST)29 Nov 2021
Bank Nifty turns red

Bank Nifty was down in the red just ahead of the closing bell. The banking gauge was holding around 36,000 level.

15:10 (IST)29 Nov 2021
Nifty holds above 17000

Nifty was holding above 17000 as Dalal Street moved closer to Closing Bell. Sensex was up 150 points.

15:08 (IST)29 Nov 2021
Profitability of life insurance players impacted in Q1 FY2022 due to pandemic: ICRA

The total New Business Premium (NBP) growth for the domestic life insurance industry has continued to remain subdued at 4% in 7M FY2022 or Rs. 1.53 trillion due to the localised lockdown in Q1 FY2022. The growth had tapered down to 7% (Rs. 2.78 trillion) in FY2021, compared to a 21% growth in FY2020. .  A closer look between the growth rates indicates a sharp decline in the NBP growth for LIC in FY2021. Private sector NBP had slowed down in FY2020, but yet showed a positive growth (8% in FY2021 vs. 9% in FY2020), which accelerated in 7M FY2022 (25%) due to strong growth in the individual business.

~ ICRA

15:00 (IST)29 Nov 2021
Bank Nifty gainers

Kotak Mahindra bank was the top gainer on Bank Nifty, followed by HDFC Bank. All other Bank Nifty constituents were in red.

14:42 (IST)29 Nov 2021
Asian Paints to invest Rs 960 cr to expand Gujarat unit

Asian Paints Ltd on Monday said it will invest Rs 960 crore to expand the manufacturing capacity of its facility situated at Ankleshwar in Gujarat. The company has signed a memorandum of understanding with the Government of Gujarat commencing the proposed expansion of manufacturing capacity of paint from 1.3 lakh KL to 2.5 lakh KL and resins and emulsions from 32,000 MT to 85,000 MT, Asian Paints said in a regulatory filing.

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14:30 (IST)29 Nov 2021
Sensex, Nifty trim gains

Sensex and Nifty were down from highs but still in the green. Nifty was still above 17,000 mark.

14:24 (IST)29 Nov 2021
Top gainers

Kotak Mahindra Bank was up 3.57% on Monday as the top index gainer, followed by HCL Technologies, Reliance Industries and TCS.

14:21 (IST)29 Nov 2021
Broader markets trade mixed

Midcap and smallcap indices on NSE were down in the red while benchmark indices were up with gains. 

14:18 (IST)29 Nov 2021
India VIX in red

India VIX slipped into red on Monday after having soared higher earlier in the day. The gauge was down 2.22% but was still above 20 levels. 

14:07 (IST)29 Nov 2021
Bank Nifty in green

Bank Nifty was up with gains on Monday. The banking gauge jumped 0.71% to close in on 36,282 points. 

13:32 (IST)29 Nov 2021
Omicron leads to a risk-off; volatility to remain elevated

According to the India Strategy Report by Motilal Oswal Financial Services Limited, The Nifty has corrected 8% since hitting a new high on October 18th, owing to global factors such as the Fed’s taper announcement, rising bond yields, higher crude oil prices, and the strengthening of the US Dollar Index. Primary market activity in India remains quite elevated, with a bunch of new age companies (Zomato, Nykaa, Policy Bazaar, Paytm, etc.) raising capital. Around Rs. 964 billion has been raised in FY22 YTD, which is higher than Rs.909 billion raised in FY18. While the primary market has seen net FII investments of $7.2 billion in CY21 YTD, the secondary market saw net outflows of $ 1.77 billion. The discovery of a novel COVID-19 variant – Omicron – in South Africa wreaked havoc on global equity markets on 26th Nov’21. This resulted in risk-off sentiment, with markets correcting by 2-3% globally, easing bond yields, and an 11% fall in Brent Crude prices. India’s VIX rallied 25% to 20.8.

13:23 (IST)29 Nov 2021
What is Surety Guarantee and how it impacts infrastructure, construction industries, and the economy

A surety is the assurance of the financial or the performance obligation of one party by another. It is a person or an organization that assumes the responsibility of fulfilling the contractual obligation in the event of a default by the obligee. It is a risk transfer mechanism where the surety company assures the obligee/project owner that the principal/contractor will perform his obligation as per the contract.

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12:56 (IST)29 Nov 2021
Avoid Star Health IPO

Considering September 30, 2021, adjusted BVPS of Rs 90.35 on the post-issue basis, the company is going to list at a P/B of 9.96 with a market cap of Rs 5,17,961 million, while its peers namely ICICI Lombard and New India Assurance Limited are trading at P/B of 8.25 and 0.71 respectively. We assign an “Avoid” rating to this IPO as the issue is expensive as compared to its peers.  

~ Marwadi Shares and Finance Limited

12:26 (IST)29 Nov 2021
Bottomed out?

We believe, ongoing corrective phase to get anchored around 16900-16700 based on the following observation over past 20 months: A) Since May 2020, during all 3 corrections index retraced 38% of the preceding rally. 38% retracement of the current rally is placed at 16900 B) since May 2020, index has not corrected for more than 10%.

~ ICICI Direct

12:15 (IST)29 Nov 2021
52-week highs, 52-week lows: Tarsons Products among 210 stocks to hit fresh highs on BSE, 77 hit new lows

Sensex and Nifty were looking to recover some of the losses suffered in the previous week today. S&P BSE Sensex was above 57,500 while NSE Nifty 50 regained 17,100. Morning trade saw high volatility as India VIX breached 22 levels. On the BSE, 210 stocks reached fresh 52-week highs while 78 were trading at new 52-week lows. Meanwhile, on NSE, 69 stocks traded at 52-week high values and 77 were down at 52-week lows. Among stocks touching fresh highs included newly listed Tarsons Products, Trident, Raymond, Rajesh Exports, and Shipping Corporation of India

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11:37 (IST)29 Nov 2021
A Black Friday followed by a possible Green Monday

“As expected, Nifty attempting to reverse today. Omicron is the beginning of the fading away of Covid 19. Markets are highly oversold & a close in the green today will open the way for 17,500 & 17,850,” said Rahul Sharma, Director & Head – Research JM Financial.

11:03 (IST)29 Nov 2021
Rakesh Jhunjhunwala-backed Star Health IPO opens tomorrow; GMP evaporates, should you subscribe?

Rakesh Jhunjhunwala-backed Star Health and Allied Insurance IPO will open for subscription tomorrow as the company looks to raise Rs 7,249 crore from investors. Shares of Star Health and Allied Insurance will be available for investors to subscribe from tomorrow in a fixed price band of Rs 870-900 per share in a bid lot of 16 shares. Ahead of the IPO the grey market premium (GMP) of Star Health has declined sharply to now sit below Rs 10 per share, according to people who deal in unlisted stocks. The GMP of Star Health was close to Rs 90 per share last week.

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10:50 (IST)29 Nov 2021
India VIX gives up 22 levels

India VIX, the volatility gauge, gave up some gains as it moved below 22 levels. 

10:14 (IST)29 Nov 2021
Sensex, Nifty in green

Sensex and Nifty extended gains on Monday morning as bulls attempted a comeback on Dalal Street. 

09:48 (IST)29 Nov 2021
Nifty needs to close above 17000 today

“As expected the markets opened weak post Friday’s close where the index failed to close above 17200. The short term is weak and the medium term is now shaping up to become weak too. If we trade below 17000 on a closing basis, the Nifty can slip further to 16500. On the upside, the resistance is at 17500 and unless we do not get past that on a closing basis, any up move can be strategically used to go short on the markets,” said Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments.

09:45 (IST)29 Nov 2021
Buy the dip

“Investors should not panic during the ongoing corrective phase, instead dips should be capitalized to build quality portfolio over medium term perspective,” said ICICI Direct.

09:39 (IST)29 Nov 2021
India VIX up 7%

Amid strong volatility, India VIX zoomed 7% to breach 22 levels on Monday morning. 

09:33 (IST)29 Nov 2021
Sensex, Nifty trim losses further

Sensex and Nifty were recouping losses on Monday morning after having opened deep in red. Nifty regained 17000.

09:32 (IST)29 Nov 2021
16800-16694 support zone for Nifty

“It is a make or break situation for markets and traders are advised to keep a close eye on the support zone of 16800-16694,” said Rahul Sharma, Director & Head – Research, JM Financial.

09:19 (IST)29 Nov 2021
OPENING BELL

Domestic indices started Monday’s trading session with a weak bias as Nifty gave up support levels at 16889. India VIX zoomed 7%. 

09:15 (IST)29 Nov 2021
D-Street set for a positive start

Indian markets are likely to start the week on a positive note on the back of steadiness in Asian peers as traders tried to calibrate the possible impact of the omicron Coronavirus strain on global economic reopening.

~ ICICI Direct

09:10 (IST)29 Nov 2021
16,889 to act as support for Nifty

“On the technical front, the key resistance levels for Nifty 50 are 17259 followed by 17429 and on the downside 16889 followed by 16752 can act as strong support. Key resistance and support levels for Bank Nifty are 36628 and 35663 respectively,” said Mohit Nigam, Head – PMS, Hem Securities.

09:04 (IST)29 Nov 2021
Nifty nears 17000

Nifty trimmed some gains and moved closer to 17000 during the pre-open session. Sensex was down more than 300 points.

09:01 (IST)29 Nov 2021
Pre-open

Sensex dives 500 points in pre-open session on Monday while Nifty 50 was below 17000 mark.

08:58 (IST)29 Nov 2021
Gold price slips on stronger dollar, bullion rates may move sideways to down this week

Commodity prices traded lower with most of the commodities in the non-agro segment witnessed selling last week with crude oil falling the most. Crude oil prices plunged by more than 10% on higher supply pressure and demand growth worries. The fast-spreading virus cases in Europe and South Africa has raised demand worries for non-agro commodities. Base metals witnessed additional pressure on China growth worries and stronger dollar.

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08:43 (IST)29 Nov 2021
Nifty expected to open positive

“Nifty is expected to open positive at 17160 , up by 150 points.  Nifty has its resistance in 17275-17350 range and support in 16875-16950 range. Traders are suggested to use all pull backs in Nifty to exit long positions . Overall trend in Nifty remains weak and no new long positions should be initiated till we see a strong closing above 17800.” Mr. Gaurav Udani, CEO & Founder, ThincRedBlu Securities,” Gaurav Udani, CEO & Founder, ThincRedBlu Securities.

08:35 (IST)29 Nov 2021
Buy these two stocks for gains; Nifty may fall to 16500 if it breaks 16800 support levels

Bears continued to tighten its grip for the second straight week with a clear intense of selling at every higher tick in all the sectoral indices except nifty pharma. Benchmark on the weekly chart closed below four percent and also witnessed a closing below its 11 week low, indicating a strong profit booking or the first leg of correction phrase. 

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08:23 (IST)29 Nov 2021

On Monday morning SGX Nifty was up more than 80 points, hinting at a positive start to the day’s trade. On the charts, however, Dalal Street looked to be in for more weakness ahead. “The market has been in a steep fall and more weakness could be in store. The downside breakout of the crucial supports and the overall negative chart pattern as per daily and weekly timeframe indicate resumption of a sharp downward trend in the market,” said Nagaraj Shetti, Technical Research Analyst, HDFC Securities. “The next lower targets to be watched for Nifty around 16500 levels in the next couple of weeks. Any pullback rally from here could find strong resistance around 17200 levels,” he added.

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07:58 (IST)29 Nov 2021
Time to maintain caution

Markets were already struggling amid inflation fear and the news of a new COVID variant helped bears to strengthen their grip. Nifty has corrected nearly 9% from the top so far and the indications are pointing towards further slide to 16,700 zone as per the target of 2-month long distribution pattern. All sectors barring pharma are reeling under pressure so participants should maintain caution and align their positions accordingly. At the same time, investors should see this fall as an opportunity to accumulate quality stocks at a good bargain.

~ Ajit Mishra, VP Research. Religare Broking

07:56 (IST)29 Nov 2021
SGX Nifty in green

SGX Nifty was up 70 points during the early hours of trade on Monday. Nifty futures trading with gains hints at positive momentum building up for domestic indices.

07:55 (IST)29 Nov 2021
Two IPOs to hit market next week to raise Rs 7,868 crore

Two companies Star Health and Allied Insurance Company and Tega Industries are set to float their initial public offerings (IPOs) next week to cumulatively raise Rs 7,868 crore. The three-day initial share-sale of Star Health will open on November 30 and conclude on December 2, while that of Tega Industries will be open for public subscription during December 1-3. This comes after 10 firms successfully concluded their initial public offerings in November. So far in 2021, as many as 51 companies have launched their IPOs to raise over Rs 1 lakh crore, according to an analysis of data with exchanges.

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